HF 4587

as introduced - 91st Legislature (2019 - 2020) Posted on 04/28/2020 11:03am

A bill for an act
relating to economic development; appropriating money for grants to small
businesses affected by the COVID-19 outbreak.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin SMALL BUSINESS RELIEF GRANTS; APPROPRIATION.
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new text begin (a) $....... in fiscal year 2020 is appropriated from the federal funds received by the state
of Minnesota for coronavirus relief in the coronavirus relief fund under Public Law 116-136
to the commissioner of employment and economic development for grants under paragraph
(c). The appropriation in this paragraph is reduced by any amount appropriated in paragraph
(b). Funds are available until December 31, 2020.
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new text begin (b) If the appropriation in paragraph (a) is unable to be made before May 1, 2020, then
$....... in fiscal year 2020 is appropriated from the general fund to the commissioner of
employment and economic development for grants under paragraph (c). Funds are available
until December 31, 2020.
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new text begin (c) Money appropriated under paragraph (a) or (b) shall be used to make grants to:
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new text begin (1) the Minnesota Initiative Foundations to serve businesses in greater Minnesota; and
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new text begin (2) the Otto Bremer Trust to serve businesses in the seven-county metropolitan area.
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new text begin (d) Recipients of grants under paragraph (c) shall use those funds to make grants of up
to $10,000 to individual businesses that:
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new text begin (1) are located in the state of Minnesota;
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new text begin (2) employ the equivalent of 50 full-time workers or less; and
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new text begin (3) can demonstrate financial hardship as a result of the COVID-19 outbreak.
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new text begin Grant funds received by individual businesses shall be used for working capital, to support
payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that
occur in the regular course of business.
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new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
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